Need Help Repairing My Credit
Date: Fri, 03/21/2008 - 20:40
Submitted by aaronmarshallbucher
on
Fri, 03/21/2008 - 20:40
Total Replies: 1
Hello -
I am new to these forums. I have been looking around, and it seems like a great community with so much useful information. Okay, here is my situation....
I divorced last year. During the the initial separation and divorce, I had several accounts go into collection (6 or 7). I make a decent income for a single, 28 year old man....about 65k a year. After a costly divorce, I was able to get back on my feet and get all of my old accounts settled. One of the mistakes I now see that I made was that I did not negotiate with the collection agencies to remove the mark on my cr once it was paid off. Anyway, all accounts have been taken care of. I do have one loan with a bank for about 30k that I have been paying on for the last 3 years with no late payments. I always made it a point to get that one paid. During the divorce, I did have several late payments on other accounts. I have managed to keep everything current for the last 4 months. My Experian score is 591. It has went up 14 points in the last 3 months. My question is, what can I do to raise my credit score so I can get a decent mortgage, and do you have any ideas on how long will it take? I appreciate all of your help!
Aaron
I am new to these forums. I have been looking around, and it seems like a great community with so much useful information. Okay, here is my situation....
I divorced last year. During the the initial separation and divorce, I had several accounts go into collection (6 or 7). I make a decent income for a single, 28 year old man....about 65k a year. After a costly divorce, I was able to get back on my feet and get all of my old accounts settled. One of the mistakes I now see that I made was that I did not negotiate with the collection agencies to remove the mark on my cr once it was paid off. Anyway, all accounts have been taken care of. I do have one loan with a bank for about 30k that I have been paying on for the last 3 years with no late payments. I always made it a point to get that one paid. During the divorce, I did have several late payments on other accounts. I have managed to keep everything current for the last 4 months. My Experian score is 591. It has went up 14 points in the last 3 months. My question is, what can I do to raise my credit score so I can get a decent mortgage, and do you have any ideas on how long will it take? I appreciate all of your help!
Aaron
Hi In my opinion you should continue making timely payments a
Hi
In my opinion you should continue making timely payments as one of the important factors that affect your score is your payment history. It accounts for 35% of your total score.
Meanwhile you can also start( if possible) looking for new credit. But again go for this step only if you feel confident about managing it efficiently.
Keep monitoring your credit report frequently.
Best of luck and keep us posted
Nelly
